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The fallout of the Waddle acquisition probably most adversely affects Franklin, who was the club's second-most productive wideout in 2025 (65-709-6 on 104 targets, second only to Sutton's 124). Now, Franklin looks like he'll man the slot in three-receiver sets, and even within that he'll need to fend off Bryant, who is entering Year 2, for playing time. Considering that Nix already led the NFL in passing attempts a year ago, the idea that the Broncos will throw markedly more seems dubious, which means a redistribution of targets is the more likely outcome.
Before the trade, you could've made a case for Franklin as a possible WR5. Now, he's unlikely to offer appreciable value in standard formats. Those in deeper leagues can consider stashing him with a late-round flier, but barring injuries to Waddle or Sutton, his ceiling looks fairly low.
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